DISCUSSES PRINCIPAL FORMS OF BUSINESS OWNERSHIP: SINGLE PROPRIETORSHIP, PARTNERSHIP & CORPORATION, AND EXPLAINS ADVANTAGES & DISADVANTAGES OF EACH.
Takes a small business through the benefits of incorporation and explains the process somewhat. Discusses the idea that a corporation is treated as a person in the eyes of the law.
Shots: steel manufacturing plant;
clothing store, selling ties; two men shaking hands; stock exchange;
Different kinds of corporations (including towns, schools, colleges, churches and hospitals); also partnerships and single proprietorships;
SIGN: Imperial Steel Co. Inc.
SIGN: WELCOME TO
"Imperial Steel along with thousands of other legal persons is a part of daily living, it is a member of our society. Yet it is not simply this property, nor is it a human being or a group of human beings, it is Imperial Steel Co. incorporated with stock owned by people in widely scattered places."